Word: exportable
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Dates: during 1950-1959
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...clear summer afternoon of June 27, the American Export passenger-cargo liner S.S. Excalibur nosed out of New York harbor into a collision with the inbound Danish freighter Colombia (TIME, July 10). As water poured through a 38-foot hole between the Excalibur's No. 2 and No. 3 holds, Captain Samuel Groves rang up full speed, beached her on the mud bottom off Bay Ridge, Brooklyn. Within an hour all 114 passengers had been taken off and American Export Lines began a furious race to get the Excalibur ready for sea again. In 39 days of continuous work...
Such swift work was nothing new for American Export. On-the-dot schedules for its "Aces" and 24 all-cargo vessels clear five ships from New York every week. In 1949 American Export completed 160 voyages, carried autos, lubricating oils, tires and EGA foodstuffs to the Mediterranean and India, hauling more than half of all U.S. ocean cargo to that area. Its return shipments were more exotic: monkeys from Calcutta, leopard skins from Yemen, Italian vermouth, Turkish tobacco. From its 1,490,548 tons of freight and 13,337 passengers, American Export rolled up a $5,900,000 profit. American...
Glad Hand. American Export has steamed a long way from the depression days of 1935, when a syndicate headed by Manhattan's Lehman Bros, investment banking firm bought it lock, stock and whistle for a skimpy $1,500,000. Incoming Executive Vice President John Elliot Slater found the line loaded to the gunwales with mortgage debt, saw that one of its main assets was its European freight representative, John Francis Gehan. Bustling, ebullient "Jiggs" Gehan, known as "a man who does business with a handshake instead of a contract," found cargo for American Export ships in so many South...
Patty's triumph not only gave the U.S.L.T.A. some data for thought, it also boosted U.S. stock in next month's Davis Cup matches with the Australians. Patty, holding down a new job with a U.S. export firm, announced that he would come home for a whirl at the tennis circuit, try for the U.S. Davis Cup team. Pressed for an explanation of his new-found success, grinning Patty told the reporters: "I guess I just got tired of losing...
...walk through Prague's Wenceslas Square," says Schmidt, "and see ... on nine-tenths of the shops ... the sign 'Narodni Podnik' which means National Enterprise." Nearly 100% of industry, wholesale trade and export-import trade, and 80% of shops have been communalized. Although this economic concentration in the hands of the government is capable of generating great power, Communists are finding that compared with the selective precision of private enterprise, nationalized enterprise on such a scale is often a blunt instrument. Thus Rude Pravo, central Communist Party organ, complained recently that so many sieves were being delivered...